Sysfore Retail Financial Management

Retail industry is one of most dynamic and fast evolving and hence known as a challenging vertical. The key functionality of any Financial Management system isto support daily accounting activities such as Receivables and Payables accounts management. Other features include Budgetting, Assets Amortization, taxation, P/L, reporting as well as the Opening and Closing of the Accounting Year.

In retail cash flow management is a big challenge, hence its critical for retailers to understand and track the sales or purchase transactions to make the timely collection and payments. Each retail business as a whole requires all its units to function as individual as well as group or centralized mode in order to achieve efficiency and excellence in customer relationship management. Hence a comprehensive, retail-ready financial technology solution is inevitable.

Sysfore Retail automatically generates an accounting representation of all the transactions within the enterprise that have an economic relevance. This way the system helps in tracking the Assets, the Debts, the Income and the Expenses of a business and control the day to day operations efficiently. For all those transactions which doesn’t correspond to the documents, a G/L Journal Entry is a manually created entry in the general ledger journal.

KEY FEATURES OF FINANCIAL MANAGEMENT IN SYSFORE RETAIL

MULTI ORGANIZATION HEIRARCHY

MULTIPLE CHART OF ACCOUNTS(COA)

FISCAL CALENDAR:

ACCOUNTINGTREE

ACCOUNT DIMENSIONS

DEFAULT ACCOUNT

TAX

BUDGETS

ASSET MANAGEMENT

G/L JOURNAL

FINANCIAL STATEMENTS

LOCALIZATION

Overall the finance module in the Sysforeretail will help retailers in gaining complete visibility of the business operations. Assist in taking quick and efficient business decisions. Control and monitor the cash flow and management to ensure profitability.